Adero Partners LLC Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Adero Partners LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 32.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,121 shares of the company's stock after selling 4,933 shares during the quarter. Adero Partners LLC's holdings in Palantir Technologies were worth $854,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PLTR. Tallon Kerry Patrick purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $289,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $15,177,000. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $450,000. Allspring Global Investments Holdings LLC raised its position in shares of Palantir Technologies by 46.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,499 shares of the company's stock valued at $13,421,000 after buying an additional 56,299 shares in the last quarter. Finally, Roman Butler Fullerton & Co. purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $222,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. UBS Group increased their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $86.30.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $137.40 on Monday. The stock has a market cap of $324.25 billion, a PE ratio of 723.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The firm has a fifty day moving average price of $115.48 and a 200 day moving average price of $95.01. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $140.43.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm's revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

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